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it was a flat tax. those making over a hundred thousand dollars per year or 20,000 in today's money were taxed a whopping 3% rate. next year congress deciding it like this idea that people would just send money there wait introduced a sliding scale. those making about $10,000 or 229,000 canal would be attacked at 5%, and the idea of taxing the rich was born. guess what? the tax was repealed in 1866. congress decided they did not want free money anymore. that is, until 1994 when it tried to bring it back, but this time the supreme court stepped in calling the tax unconstitutional. so, or teeseven republican offer a constitutional amendment and 100 years ago yesterday deaware became the 306th state to ratify it and the income tax was official. so before you go cursing the lawmakers from 1913, the income tax looked a lot different than now. take a look at that. for starters, this is what the tax code looked like a century ago. thirty-eight pages. that's it. tiny. today it is nearly 74,000 pages with the to
it was a flat tax. those making over a hundred thousand dollars per year or 20,000 in today's money were taxed a whopping 3% rate. next year congress deciding it like this idea that people would just send money there wait introduced a sliding scale. those making about $10,000 or 229,000 canal would be attacked at 5%, and the idea of taxing the rich was born. guess what? the tax was repealed in 1866. congress decided they did not want free money anymore. that is, until 1994 when it tried to...
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is coming after we raise 600 billion in taxes. what does the president say? well, let's not do the spending cuts, which we are counting on to keep it down to 7 trillion. instead to raise taxes, which we already proven does not solve the problem. you have to have a pretty good sense of humor to like it that seriously. lou: and to look at you have to have a pretty good sense of humor to put this in context of the history of this president and fiscal issues. does not pose for the budget. the senate has not passed one commend the president of the united states said this back in 2011. november 41st. already, he said, some in congress are trying to undo these automatic spending cuts, much like he did today at 115 eastern time. my message to them back in 2011, no, i will be there through any effort to get rid of automatic spending cuts to domestic and defense spending said the break president at that point. your reaction? >> that was president obama circa 2011. candid obama in a debate set sequester is just not going to happen. did not explain how. president obama c
is coming after we raise 600 billion in taxes. what does the president say? well, let's not do the spending cuts, which we are counting on to keep it down to 7 trillion. instead to raise taxes, which we already proven does not solve the problem. you have to have a pretty good sense of humor to like it that seriously. lou: and to look at you have to have a pretty good sense of humor to put this in context of the history of this president and fiscal issues. does not pose for the budget. the...
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Feb 6, 2013
02/13
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CSPAN
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from the expiration of the payroll tax cut and higher tax rates on higher incomes. your meaning 0.25% is from a collection of other factors in the budget. that is the breakdown. that is as precise as we think we could reasonably be. as for the extra half question -- increase in the agriculture spending, i'm afraid i cannot speak to that directly. i do not know if my colleagues know that off hand. if not we have to get back to you separately. >> two questions. the first, really inside baseball -- in your june report you had debt to gdp at 200% by 2037. my colleague wants to know, based on this current report, it sounds like you have pushed that back to 2040. >> i do not think you can draw that conclusion. your colleague is referring to our long-term budget outlook from last year, which looks at 25 years and some of the on that. we have not updated those long- term projections yet. we will do that later this year. so we do not know how the change in the projections for the first decade will affect the path of debt beyond that. >> how do you factor in things like the f
from the expiration of the payroll tax cut and higher tax rates on higher incomes. your meaning 0.25% is from a collection of other factors in the budget. that is the breakdown. that is as precise as we think we could reasonably be. as for the extra half question -- increase in the agriculture spending, i'm afraid i cannot speak to that directly. i do not know if my colleagues know that off hand. if not we have to get back to you separately. >> two questions. the first, really inside...
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Feb 5, 2013
02/13
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WTTG
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. >> i believe they should pass a smaller package of spending cuts and tax reforms that would delay the economically damaging affects of the sequester for a few more mots until congress finds a way. >> reporter: the president wants to raise more money by ending tax loopholes, but republicans want deeper entitlement cuts. >> if we're going to connect with the american people, it's important that they see not only that we're serious about solving our debt problems. >> a studdie by george mason university estimated 448,000 jobs could be affected in d.c., maryland, and virginia. for months, defense contractors have pleaded for action. >> we would hope that congress would meet their obligations to us and to the public. >> reporter: virginia congressman frank wolf wrote to the president and speaker arguing the bipartisan plan would avoid sequestration and stop its widespread affect on jobs. >> sequestration will hurt not only the defense side bow the non-defense side. my committee funds the fbi. there will probably be furloughs at the fbi. >> there will be furloughs at the national cancer ins
. >> i believe they should pass a smaller package of spending cuts and tax reforms that would delay the economically damaging affects of the sequester for a few more mots until congress finds a way. >> reporter: the president wants to raise more money by ending tax loopholes, but republicans want deeper entitlement cuts. >> if we're going to connect with the american people, it's important that they see not only that we're serious about solving our debt problems. >> a...
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Feb 7, 2013
02/13
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KQED
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potentially valuable ones include the option to deduct state sales taxes instead of income taxes. so, make sure you have the receipts to get those breaks. you also have another way to lock in tax-free retirement income. under the new law you can convert a traditional 401(k) to a roth 401(k) at any time, assuming your company offers both options. you'll have to pay income taxes on the conversion but your withdrawals in retirement will be 100% tax-free, that's a good move if you're worried about taxes rising. the few taxes increases that did make the cut are on the highest earning households. that's for singles earning $400,000 a year and couples earning $450,000 or more. if you're fortunate enough to be in that group, your best move is to lower your taxable income by maxing out tax deferred options like your 401(k) and iras. of course, those are good moves to make in any year. i'm donna rosato. >> tom: that's "nightly business report" for wednesday, february 6. have a great evening everyone, and you too susie. >> susie: goodnight tom, thanks for watching everyone. we'll see you onl
potentially valuable ones include the option to deduct state sales taxes instead of income taxes. so, make sure you have the receipts to get those breaks. you also have another way to lock in tax-free retirement income. under the new law you can convert a traditional 401(k) to a roth 401(k) at any time, assuming your company offers both options. you'll have to pay income taxes on the conversion but your withdrawals in retirement will be 100% tax-free, that's a good move if you're worried about...
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you cou ...tax time can be...well...taxing. so right now we'll give you... ...$10 off any turbo tax deluxe level software or higher! find thousands of big deals now... ...at officemax. liz: welcome back. this is an important story. unions facing a big defeat this week. the national labor relations board communions they cannot protest in front of wal-mart for two months. they are saying that the unions picketed illegally in front of the big retailer and after wisconsin and michigan becoming right to work states. so is labor losing its punch? dd, what do you think? >> i do think the unions are dying and they are on their way out. indiana, my homes it is a right to work. and it's working. unions are job killers. losing companies left and i right to other companies and we just need to realize the unions are dead and they need to realize that read what they are is political pacs. liz: adam, what do you think? >> there's no question that humans are dying. the question is when they're going to die and how data will look. this is a pro
you cou ...tax time can be...well...taxing. so right now we'll give you... ...$10 off any turbo tax deluxe level software or higher! find thousands of big deals now... ...at officemax. liz: welcome back. this is an important story. unions facing a big defeat this week. the national labor relations board communions they cannot protest in front of wal-mart for two months. they are saying that the unions picketed illegally in front of the big retailer and after wisconsin and michigan becoming...
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when they vote for people to raise taxes. taxes in my mind, tax hikes are austerity. i'm not sure why that is a perspective that isn't out there with the american people. what do you make of that? >> i think we have people that are not looking at how the greater economy affects them. free trade is good for america. it's good for working americans. yet we tend to be protectionist protectionists as we talk about our economy now growing rather than expand. don't talk about being competitive with the rest of the world and taxes. our tax rate are approaching the highest tax rates in the world and we have to be competitive with the world. this is about creating opportunities for growth rather than building walls and burdening others and thinking that you're not going to carry the burden. if you build the wall to deny someone to exercise a creative idea that will add jobs and create opportunities, you are denying an opportunity to grow. right now we are in a position where the united states is struggling to grow because we are overly protecting ourselves from failure. failur
when they vote for people to raise taxes. taxes in my mind, tax hikes are austerity. i'm not sure why that is a perspective that isn't out there with the american people. what do you make of that? >> i think we have people that are not looking at how the greater economy affects them. free trade is good for america. it's good for working americans. yet we tend to be protectionist protectionists as we talk about our economy now growing rather than expand. don't talk about being competitive...
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potentially valuable ones include the option to deduct state sales taxes instead of income taxes. so, make sure you have the receipts to get those breaks. you also have another way to lock in tax-free retirement income. under the new law you can convert a traditional 401(k) to a roth 401(k) at any time, assuming your company offers both options. you'll have to pay income taxes on the conversion but your withdrawals in retirement will be 100% tax-free, that's a good move if you're worried about taxes rising. the few taxes increases that did make the cut are on the highest earning households. that's for singles earning $400,000 a year and couples earning $450,000 or more. if you're fortunate enough to be in that group, your best move is to lower your taxable income by maxing out tax deferred options like your 401(k) and iras. of course, those are good moves to make in any year. i'm donna rosato. >> tom: that's "nightly business report" for wednesday, february 6. have a great evening everyone, and you too susie. >> susie: goodnight tom, thanks for watching everyone. we'll see you onl
potentially valuable ones include the option to deduct state sales taxes instead of income taxes. so, make sure you have the receipts to get those breaks. you also have another way to lock in tax-free retirement income. under the new law you can convert a traditional 401(k) to a roth 401(k) at any time, assuming your company offers both options. you'll have to pay income taxes on the conversion but your withdrawals in retirement will be 100% tax-free, that's a good move if you're worried about...
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and california has an income tax so they will win this one. california income tax is 13.3%. you heard me right, 13.3%. texas income tax rate for individuals is 0%. and again, another check mark. corporate income tax, california 8.84%. don't ask me why they want .4 in that. but there it is. texas, to keep it simple, zero, another check mark for texas. dead, california $75. that is a pretty good chunk of change. texas, $15 billion. again, another check mark. the poverty rate, california has the highest poverty rate in the country for crying out loud, 23.5%. 23.5%. again, the highest in the nation. texas, .5%. i should have made that lower on the board. graduation rates, california not too bad, 76% graduation rates in california, doesn't ke up with texas, 86% graduation rates. the score, 8-0. california zero in that contest. governor brown, think there is a clear message here. don't mess with texas. a new coalition, iran with a bold strategy saying it has already gone nuclear. gun violence in entertainment is the highest caliber. ben willis on the second amendment. president ob
and california has an income tax so they will win this one. california income tax is 13.3%. you heard me right, 13.3%. texas income tax rate for individuals is 0%. and again, another check mark. corporate income tax, california 8.84%. don't ask me why they want .4 in that. but there it is. texas, to keep it simple, zero, another check mark for texas. dead, california $75. that is a pretty good chunk of change. texas, $15 billion. again, another check mark. the poverty rate, california has the...
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Feb 2, 2013
02/13
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CNBC
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i...i mean, you...love. ...tax time can ofbe...well...taxing. so right now we'll give you... ...$10 off any turbo tax deluxe level software or higher! find thousands of big deals now... ...at officemax. sic: "make someone happy" music: "make someone happy" ♪it's so important to make someone happy.♪ ♪it's so important to make someone happy.♪ ♪make just one someone happy ♪and you will be happy too. >>> people always want help when the market sells off. they want me to tell them what to do to validate their fear, stocks get hammered, investors freak out. they panic. or at the very least they seem to want to panic. they want to be this guy. many don't know what's going wrong. few can easily handle the trauma of big losses. and almost everybody wants some expert to help them figure out the next move. i don't blame them. but you know in all my 31 years in the business, i can't recall a single time where somebody came up to me and asked, jim, the market's rallying like crazy. what the heck do i do? that is unfortunate. because just as you n
i...i mean, you...love. ...tax time can ofbe...well...taxing. so right now we'll give you... ...$10 off any turbo tax deluxe level software or higher! find thousands of big deals now... ...at officemax. sic: "make someone happy" music: "make someone happy" ♪it's so important to make someone happy.♪ ♪it's so important to make someone happy.♪ ♪make just one someone happy ♪and you will be happy too. >>> people always want help when the market sells off....
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Feb 6, 2013
02/13
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CSPAN2
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so the tax cut the income tax cut. the consumption tax area, if you think about what we do in terms of facing a benefits of the texas cement phasing out and making his eligible for all of our peas number of transfer systems we allowing income commander at going to allow consumption among a million dollars in income but you only consumed 10,000, so we're trying to give you an earned income tax credit. so we still rely upon the income system have all but the notion begin abandon income accounting and simplify and purify the tax system in this transfer systems over here that no longer have the income accounting is not going to work. the accountable care act. it was helpful for welfare reform and tax reform all at once because their is a huge knew tax system on income imposed upon people getting a subsidy. another dollar of income and after lose another $0.9 of health benefit. the notion you can convert to a consumption tax and now worry about these other accounting issues is somewhat of a myth. >> straight out of joe's bu
so the tax cut the income tax cut. the consumption tax area, if you think about what we do in terms of facing a benefits of the texas cement phasing out and making his eligible for all of our peas number of transfer systems we allowing income commander at going to allow consumption among a million dollars in income but you only consumed 10,000, so we're trying to give you an earned income tax credit. so we still rely upon the income system have all but the notion begin abandon income accounting...
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tempting business away from the highest taxed state in the country to his very low tax state. dominick says his own clients are very worried and worried sick looking for solutions and it looks like the lone star state might have some. religion may have clients who say we are frightened here in new york? >> we deal with a very unique client base. they have a fixed budget, certain amount of income in an annual basis. it is pa how to handle those dollars. the question is, is that the wisest use of my money? nine times out of 10, where do you move to? texas, nevada, florida. liz: governor jerry brown is saying i don't like what governor perry is doing, using some tricks here. he has it all wrong. california, we have great weather, venture capital, an educated workforce. don't go to texas, come to california. >> they also have a state income tax, highest in the country, they have a corporate income tax, the highest gas taxes in the country, our clients are going desert looking to move. california is a great place and if you can afford to be there, it is a wonderful place to live bu
tempting business away from the highest taxed state in the country to his very low tax state. dominick says his own clients are very worried and worried sick looking for solutions and it looks like the lone star state might have some. religion may have clients who say we are frightened here in new york? >> we deal with a very unique client base. they have a fixed budget, certain amount of income in an annual basis. it is pa how to handle those dollars. the question is, is that the wisest...
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Feb 6, 2013
02/13
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KRON
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mister obama says the nation should move forward with a broad package for tax reform and spending cuts. but if congress can't act before the deadline. lawmakers should at least pass a small package to fend off damaging effects that would be felt across the board. >> our economy is headed in the right direction right now. >> pam: president obama says the proposals he offered house speaker john boehner late last year during discussions over the so- called fiscal cliff are still on the table. however -- boehner says additional tax hikes are out of the question. >> pam: we're learning more about the gunman -- jimmy lee dykes -- who kidnapped a five year old boy. and held him hostage for nearly a week in an underground bunker in alabama. here are new photos released by the f-b-i showing photos right outside the underground bunker. the f-b-i says dykes was involved in a firefight with swat agents before he was killed during operation. bomb technicians also found two explosive devices on the property today. authorities say one explosive was found inside the bunker -- and the other was located
mister obama says the nation should move forward with a broad package for tax reform and spending cuts. but if congress can't act before the deadline. lawmakers should at least pass a small package to fend off damaging effects that would be felt across the board. >> our economy is headed in the right direction right now. >> pam: president obama says the proposals he offered house speaker john boehner late last year during discussions over the so- called fiscal cliff are still on the...
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Feb 7, 2013
02/13
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FOXNEWS
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texas doesn't have a state tax. they have no corporate tax. the taxes in your state are the highest in the union. now, the weather in california is fabulous. you have got the pacific ocean there. i mean, you have a lot -- >> -- it's not just the weather. >> bill: that's why people want to live there shouldn't california be trying to -- the stats are there is a lot of people in businesses moving out of california. california is not a growth place anymore. >> well, actually california has some of the best universities. we have well capitalized companies here. all of our venture money is here. seed funding is being deployed locally. enabling companies, the creation of companies to decrease. the -- we're creating industries that never existed before here in california. and those -- we have small and large -- small, median size companies becoming institutional grade. and technologies and touching every vertical. the fact of the matter is in 20011, last stats, 254 california companies moved out of the state. that was 26% more than 10. you guys got s
texas doesn't have a state tax. they have no corporate tax. the taxes in your state are the highest in the union. now, the weather in california is fabulous. you have got the pacific ocean there. i mean, you have a lot -- >> -- it's not just the weather. >> bill: that's why people want to live there shouldn't california be trying to -- the stats are there is a lot of people in businesses moving out of california. california is not a growth place anymore. >> well, actually...
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Feb 9, 2013
02/13
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FOXNEWSW
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we cannot tax our way to prosperity. we cannot spend our way to prosperity. >> cut our way to prosperity, angela. >> and invest in companies that are going bankrupt. >> angela and christy, where can we find the agreement? the problem that we have is we apparently cannot find any agreement on capitol hill between congress and of course the white house and the president and we can't find any agreement with the political divide along partisan lines and we're faced with the partisan paralysis in dealing with the economy. >> and where can we find a common bond and cut spng where we need to. >> washington d.c. is broken, kelly and dysfunction aal until members of congress do their job instead of their ego and getting reelected, until the president comes to the fold and compromises, we will get worse with the economy and jobs. >> christy. >> i think that's one area where american people do agree, that congress is broke he p. another is another area i think we also agree, we need to address income inequality and need to address
we cannot tax our way to prosperity. we cannot spend our way to prosperity. >> cut our way to prosperity, angela. >> and invest in companies that are going bankrupt. >> angela and christy, where can we find the agreement? the problem that we have is we apparently cannot find any agreement on capitol hill between congress and of course the white house and the president and we can't find any agreement with the political divide along partisan lines and we're faced with the...
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Feb 8, 2013
02/13
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KTVU
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. >> reporter: tax season is here and so is the w2. if there is a headline, go check our mailboxes before someone else does. >> reporter: this quiet street lined with mailboxes had a recent visitor. >> a knock at the door that never happens. >> reporter: on the other side of the knock was a police officer. >> in his hand was my w2. he arrested a gentleman that -- for a different reason and in his bag was w2s. >> the ir "s" announce -- irs announced a sweep targeting dozens of suspects. it ended with 109 arrests and 189 indictments. he said as tax season begins, there is a heavy price to pay for pertraitors. >> when you -- perpetrators. one of her neighbor's statement got ripped off. within a day $4,000 was charged. the neighborhood feels violated. >> absolutely. because now i am going can someone open a checking account in my name, a credit card, can they file taxes under my name. >> reporter: the surgent didn't return my call about this case, residents here in the same neighborhood told me an officer was returning stolen documents to
. >> reporter: tax season is here and so is the w2. if there is a headline, go check our mailboxes before someone else does. >> reporter: this quiet street lined with mailboxes had a recent visitor. >> a knock at the door that never happens. >> reporter: on the other side of the knock was a police officer. >> in his hand was my w2. he arrested a gentleman that -- for a different reason and in his bag was w2s. >> the ir "s" announce -- irs announced...
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Feb 6, 2013
02/13
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it is including tax changes. the president spoke to reporters for just over five minutes. >> good afternoon, everybody. i wanted to say a few words about the looming deadlines and decisions that we face on our budget and on our deficit, and these are decisions that will have real and lasting impacts on the strength and pace of our recovery. economists and business leaders from across the spectrum have said that our economy is poised for progress in 2013. and we've seen signs of this progress over the last several weeks. home prices continue to climb. car sales are at a five-year high. manufacturing has been strong. and we've created more than six million jobs in the last 35 months. but we've also seen the effects that political dysfunction can have on our economic progress. the drawn-out process for resolving the fiscal cliff hurt consumer confidence. the threat of massive automatic cuts have already started to affect business decisions. so we've been reminded that while it's critical for us to cut wasteful spend
it is including tax changes. the president spoke to reporters for just over five minutes. >> good afternoon, everybody. i wanted to say a few words about the looming deadlines and decisions that we face on our budget and on our deficit, and these are decisions that will have real and lasting impacts on the strength and pace of our recovery. economists and business leaders from across the spectrum have said that our economy is poised for progress in 2013. and we've seen signs of this...
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increase after-tax increase after-tax increase. the solution is by raising taxes on somebody and you and i both know, your viewers know we increase taxes on the american people in the way it has been done, get decrease economic activity. the economy cannot be vibrant, cannot create jobs and dreams are destroyed when you increase taxes. liz: what you also point out is taxes corrode the sense of self-reliance. the new cbo report that says we will be $845 billion in debt talks about the window. this is what i'm getting at, the st. louis federal reserve said it is so unreliable back in 2000 said we would be in surplus, we would wipe out $3.5 trillion deficit. they were utterly wrong at that in the st. louis fed says what is more reliable is the model used on wall street to fix stocks. i am upset about this, it is underpinned regulatory policy, so why rely on the same report year after year that is so off the mark? >> you are spot on. we have tried to make certainly put in place positive reforms for the congressional budget office so we
increase after-tax increase after-tax increase. the solution is by raising taxes on somebody and you and i both know, your viewers know we increase taxes on the american people in the way it has been done, get decrease economic activity. the economy cannot be vibrant, cannot create jobs and dreams are destroyed when you increase taxes. liz: what you also point out is taxes corrode the sense of self-reliance. the new cbo report that says we will be $845 billion in debt talks about the window....
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Feb 9, 2013
02/13
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KQEH
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there are issues around taxes and the way you live and what you can get there. i think there's a lot of tech in texas and austin. dell is going for a new life now with this new buyout they announced this week. so there is a very vibrant culture there and south by southwest is coming up soon. i think this is analog even though we're living in a digital age. just like hollywood or detroit, this is the analog center of the tech revolution that continues. >> i mentioned certainly a lot of the tech folks would love to have a lot of things they have in texas in terms of lower regulations and taxation. >> they don't want any regulation. >> right. stay out of their way. >> yeah, exactly because they know what's right for everything because they're smarter than you are. i think one of the things that a lot of the people -- what's interesting about tech is the founders are running the companies. think about that. you know, the founders are not running the car companies, not running hollywood. the founders like living here. they went to stanford, went to berkeley. they lik
there are issues around taxes and the way you live and what you can get there. i think there's a lot of tech in texas and austin. dell is going for a new life now with this new buyout they announced this week. so there is a very vibrant culture there and south by southwest is coming up soon. i think this is analog even though we're living in a digital age. just like hollywood or detroit, this is the analog center of the tech revolution that continues. >> i mentioned certainly a lot of the...
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Feb 6, 2013
02/13
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tax. aaron czajkowski has been one that's been so many years in baltimore. she treats patients suffering from crippling neck and back pain. over time, she discovered that she suffered from the very condition that she treats. she went in for surgery and god were she got her hip replaced. thankfully she's on the mend. obamacare makes it hard for those research innovation in the united states and patients like this woman to get the care that they need. obamacare unnecessarily raises the cost of health care. even those who have pre-existing conditions could get the coverage they need without a trillion dollar government program costing all of us more. that is only the tip of the iceberg when we talk about health care reform. many families like mine are dealing with the challenges presented by aging and very sick parents. they rely on medicare for relief. the government and medicare have not kept pace. medicaid is not doing any better. collectively, states are spending more on medicaid than the
tax. aaron czajkowski has been one that's been so many years in baltimore. she treats patients suffering from crippling neck and back pain. over time, she discovered that she suffered from the very condition that she treats. she went in for surgery and god were she got her hip replaced. thankfully she's on the mend. obamacare makes it hard for those research innovation in the united states and patients like this woman to get the care that they need. obamacare unnecessarily raises the cost of...
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Feb 2, 2013
02/13
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CSPAN2
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we are required to collect the tax. we are not playing on a level playing field. however, having that on all of that, the public perception of giant corporations is changing. people understand the importance of supporting a local endeavor which supports local taxes and is involved with the local community. and i am very proud of the 15 colleagues at work here with me. we have a remarkable scientific community here here and in los alamos. so we do a great deal with science and theory and philosophy. this is a deeply religious experience. this whole wall behind me is paperback fiction and that rules out if you're on a steady basis to visitors want something light to read when they are traveling and not too terribly important. the breakfast meats here all winter long which comes to santa fe, along with millions of other viewers across the world. we do a lot with music and art. pretty much everything. the history is rooted in two major cultures. native american, hispanic, and that is obviously oversimplifying things. but each one carries a heritage that the writers ar
we are required to collect the tax. we are not playing on a level playing field. however, having that on all of that, the public perception of giant corporations is changing. people understand the importance of supporting a local endeavor which supports local taxes and is involved with the local community. and i am very proud of the 15 colleagues at work here with me. we have a remarkable scientific community here here and in los alamos. so we do a great deal with science and theory and...
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Feb 9, 2013
02/13
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. >> but i think as we face increased corporate taxes, is i going to be more challenging and it's going to be less about needing to be in silicone valley, and with technology, you can be anywhere and do your business elsewhere. >> and companies like bell, will be better suited, to come to texas. >> which is what texas governor rick perry is saying as he meets with silicon valley ceos, trying to get local businesses especially small businesses to pick up and of move to texas. will it work? >> we are of the valley. the tech ecosystem. one and the same. we are here. >> so you are not swayed or tempted by the texas? >> not at all. texas might be best to be swayed by us. >> she that is a point. while a small number of companies have left the valley. a far larger number come here. including one of texas's all time success stories. dell, which recently opened a big office and hired dozens of people in the center of silicon valley. >> and so businesses are being created had here all the time. what happens is people come here from everywhere, they start businesses and that is an exciting thing.
. >> but i think as we face increased corporate taxes, is i going to be more challenging and it's going to be less about needing to be in silicone valley, and with technology, you can be anywhere and do your business elsewhere. >> and companies like bell, will be better suited, to come to texas. >> which is what texas governor rick perry is saying as he meets with silicon valley ceos, trying to get local businesses especially small businesses to pick up and of move to texas....
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Feb 6, 2013
02/13
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it passed a $000 million a year increase in taxes. -- $6 billion a year increase in taxes. if you are wanting to expand your company and happen to be one of the rich you want to set up in a state where the vast majority of people just voted to raise taxes 30%. the personal income tax rate 30% from 10 to 13 about percent on atonally sliver of people is simply because they make more money than any one else. it is not a place to do business. h hollywood doesn't even shoot in california in any more. hollywood isn't hollywood. i have heard executives say because it is too expensive to do business in california. >> greta: a lot of people like to live in california because of the beautiful weather and beautiful coastline but you governor perry is trying to poach business from california. sort of an amusing sense is that governor brown took the bait. the short ad that governor perry put on the radio you will hear about it now because governor brown took the bait. >> a state with a population of 38 million people. created only 257,000 jobs last year in the private sector in californ
it passed a $000 million a year increase in taxes. -- $6 billion a year increase in taxes. if you are wanting to expand your company and happen to be one of the rich you want to set up in a state where the vast majority of people just voted to raise taxes 30%. the personal income tax rate 30% from 10 to 13 about percent on atonally sliver of people is simply because they make more money than any one else. it is not a place to do business. h hollywood doesn't even shoot in california in any...
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money with a progressive income tax in any case your tax rate marginal tax rate goes up so the first ten thousand you make you know no taxes the next ten thousand certainly there and ultimately reaches a certain point a wealth tax is something we don't have in the united states many countries do but we don't and that's a tax where once a year you basically. present a balance sheet to the tax authorities saying ok the total net worth of what i have is you know five thousand dollars or five billion dollars and if it's above a certain threshold well taxes are almost always progressive if it's above you know a couple million one hundred million a billion whatever it may be then there's a tax on that and i am of the opinion and this is our no billionaires dot com campaign that anybody who has a wealth of over one billion dollars with a million dollars a thousand times of their wealth is over a billion dollars there should be one hundred percent wealth tax on the money over that because if you can't live within a billion dollars you know come on give me a break ed in saginaw michigan hey e
money with a progressive income tax in any case your tax rate marginal tax rate goes up so the first ten thousand you make you know no taxes the next ten thousand certainly there and ultimately reaches a certain point a wealth tax is something we don't have in the united states many countries do but we don't and that's a tax where once a year you basically. present a balance sheet to the tax authorities saying ok the total net worth of what i have is you know five thousand dollars or five...
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Feb 4, 2013
02/13
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but there's a loser in taxes, too. >> i think we are all losers when it comes to taxes in the end. >> good point. >> 12 minutes after the hour. 911 supposed to help people in an emergency. why is one city refusing to no longer send police officers to help in certain situations in we will tell you about that. you saw how the ravens reskted to the super bowl on the field. how did the city of baltimore honor their victory. >>> in the meantime a look at the gas prices. new national average is 3.52 a gallon. [ male announcer ] it's a rule of nature. you don't decide when vegetables reach the peak of perfection. the vegetables do. at green giant, we pk vegetables only when they're perfect. then freeze them fast so they're are as nutritious as fresh. [ green giant ] ho ho ho. ♪ green giant >> new clues into the death of the woman who died in turkey. she died from a blow to the head. at least 11 people have been held now for questioning. mohammedal lace family hitting back against reports he is near death. the family posted this photo of him wearing a ravens shirt. he was excited for the su
but there's a loser in taxes, too. >> i think we are all losers when it comes to taxes in the end. >> good point. >> 12 minutes after the hour. 911 supposed to help people in an emergency. why is one city refusing to no longer send police officers to help in certain situations in we will tell you about that. you saw how the ravens reskted to the super bowl on the field. how did the city of baltimore honor their victory. >>> in the meantime a look at the gas prices....
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they sent the governor a qlert asking him to repeal the special fire tax. the request comes after reports that the california department of forest story placed $3.6 million into an off budget account. legislatureséaw@Ñ want prosecuts to great. >> they cannot put money into a secret fund have it administered off the state books for the country district attorney association. that is almost criminal. >> cal fire spokesman saying it was posted on thef#[?t transparency pub web site.f&lex >> there is more still to come tonight. just ahead silicon valley leads the way towards a national recovery but not without competition from the rest of the bay area. >> a look at process by the meat industry to tenderize beef. it's not without risk.z(rÑ >>> silicon valley helping to lead the rest of the country out of the great recession. a rrt shows 46,000 new businesses opened last year and 92,000 new jobs. one analyst says the value gee back to where it was before the dot com bust a dozen years ago. >> there is a big difference is where jobs are being created. silicon val
they sent the governor a qlert asking him to repeal the special fire tax. the request comes after reports that the california department of forest story placed $3.6 million into an off budget account. legislatureséaw@Ñ want prosecuts to great. >> they cannot put money into a secret fund have it administered off the state books for the country district attorney association. that is almost criminal. >> cal fire spokesman saying it was posted on thef#[?t transparency pub web...
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Feb 5, 2013
02/13
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president obama sees no need for more increases in tax rates. he said that in an interview with cbs news that was broadcast live before the super bowl. mr. obama signed a bill raising rates on higher-income americans last month but this is the first time that he's said that he doesn't intend to extend higher rates to more taxpayers. it's a change from the position that he's held for many months. >> we can't get this done unless we also ask the wealthiest households to pay higher taxes on their incomes above $250,000. >> pelley: that was mr. obama before the election and he made the same points in another way eight weeks ago. >> just to be clear: i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%. >> pelley: but last month he signed a stopgap compromise with congress that raised taxes on families making more than $450,000 a year. as the budget negotiations continue now, we wondered whether he would return to his goal of extending higher rates to families at that $250,000 level. are you throu
president obama sees no need for more increases in tax rates. he said that in an interview with cbs news that was broadcast live before the super bowl. mr. obama signed a bill raising rates on higher-income americans last month but this is the first time that he's said that he doesn't intend to extend higher rates to more taxpayers. it's a change from the position that he's held for many months. >> we can't get this done unless we also ask the wealthiest households to pay higher taxes on...